Fifth Third Bancorp (NASDAQ:FITB) Shares Sold by Blue Trust Inc.

Blue Trust Inc. cut its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 64.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,375 shares of the financial services provider’s stock after selling 4,374 shares during the period. Blue Trust Inc.’s holdings in Fifth Third Bancorp were worth $100,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Sequoia Financial Advisors LLC increased its position in shares of Fifth Third Bancorp by 6.2% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 13,845 shares of the financial services provider’s stock valued at $593,000 after acquiring an additional 813 shares during the period. Signaturefd LLC increased its position in shares of Fifth Third Bancorp by 3.0% in the 3rd quarter. Signaturefd LLC now owns 12,792 shares of the financial services provider’s stock valued at $548,000 after acquiring an additional 368 shares during the period. Assenagon Asset Management S.A. increased its position in shares of Fifth Third Bancorp by 8.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 21,705 shares of the financial services provider’s stock valued at $930,000 after acquiring an additional 1,740 shares during the period. Ballentine Partners LLC increased its position in shares of Fifth Third Bancorp by 5.4% in the 3rd quarter. Ballentine Partners LLC now owns 14,806 shares of the financial services provider’s stock valued at $634,000 after acquiring an additional 756 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in shares of Fifth Third Bancorp by 13.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 460,549 shares of the financial services provider’s stock valued at $19,776,000 after acquiring an additional 55,081 shares during the period. 83.79% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on FITB shares. Keefe, Bruyette & Woods upped their target price on Fifth Third Bancorp from $45.00 to $51.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Citigroup upped their price target on shares of Fifth Third Bancorp from $43.00 to $52.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. DA Davidson upped their price target on shares of Fifth Third Bancorp from $49.00 to $50.00 and gave the company a “neutral” rating in a report on Thursday, January 23rd. Piper Sandler reaffirmed an “overweight” rating and issued a $53.00 price target (down from $54.00) on shares of Fifth Third Bancorp in a report on Wednesday, January 22nd. Finally, Wells Fargo & Company upped their price target on shares of Fifth Third Bancorp from $52.00 to $54.00 and gave the company an “overweight” rating in a report on Friday, November 15th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $46.75.

Insider Activity at Fifth Third Bancorp

In related news, COO James C. Leonard sold 17,200 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $44.26, for a total value of $761,272.00. Following the transaction, the chief operating officer now directly owns 244,487 shares of the company’s stock, valued at approximately $10,820,994.62. This trade represents a 6.57 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Kevin P. Lavender sold 21,700 shares of the firm’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $43.55, for a total transaction of $945,035.00. Following the completion of the transaction, the executive vice president now directly owns 130,856 shares in the company, valued at $5,698,778.80. This represents a 14.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by corporate insiders.

Fifth Third Bancorp Trading Down 1.7 %

FITB stock opened at $42.88 on Friday. The company’s 50-day simple moving average is $43.50 and its 200-day simple moving average is $43.61. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.82. Fifth Third Bancorp has a 52-week low of $33.03 and a 52-week high of $49.07. The firm has a market cap of $28.75 billion, a P/E ratio of 13.66, a PEG ratio of 1.42 and a beta of 1.23.

Fifth Third Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date was Tuesday, December 31st. Fifth Third Bancorp’s dividend payout ratio is presently 47.13%.

Fifth Third Bancorp Profile

Fifth Third Bancorp operates as the bank holding company for Fifth Third Bank, National Association that engages in the provision of a range of financial products and services in the United States. It operates through three segments: Commercial Banking, Consumer and Small Business Banking, and Wealth and Asset Management.